Recent news of Permodalan Nasional Berhad’s (PNB) decisions to vote against the routinely proposed resolution for directors to issue and allot new shares under Sections 75 and 76 of CA2016 has thrust the topic into the limelight.
Budget 2023 only had a three-day lifespan between its tabling on 7 Oct and the dissolution of Parliament on 10 Oct to pave the way for the GE15. If there is little change in the government after GE15, likely most of the Budget 2023 allocations will stay with minor tweaking. But if indeed there is a change of government, differences are likely to be made to the plans and fund allocations before the budget is tabled again
This week, The Observer will shed some light on our observations from our AGM experiences. With the end of nationwide MCOs January this year, we have seen more PLCs resume to hold physical meetings. Then, there is this peculiar case of a company’s chairman being absent from AGMs for at least seven years. Lastly, we found insufficient time allocated for Q&A and unsatisfactory answers provided by the Board are the two common issues in virtual meetings.